MEP: EU Budget Gap Threatens Bulgaria's Infrastructure Plans

Bulgarian Member of the European Parliament from the Party of European Socialists, PES, and former Bulgarian Foreign Minister, Ivaylo Kalfin. Photo by BGNES

The European Commission has wired to Bulgaria nearly EUR 208 M for projects financed by the Cohesion Fund and structural EU funds.

EC owed to Bulgaria EUR 400.2 M, and now owes EUR 192.3 M. Bulgaria has received full payment under the Regional Development program; it is still owed EUR 148.1 M from the Cohesion Fund, and EUR 44.2 M from the European Social Fund.

The information was reported Wednesday by the Bulgarian Member of the European Parliament from the Party of European Socialists, PES, and former Bulgarian Foreign Minister, Ivaylo Kalfin, citing a report provided to the EP's Budget Committee.

Approved payments have been delayed due to shortage of funds in the EU treasury.

The total payments to EU Member States amounted to EUR 7 B, which left the EU treasury with just EUR 459 M.

The gap in the EU 2012 budget is over EUR 6.5 M, after negotiations on its actualization flopped over disagreements between Member States.

"EU coffers are empty and if an agreement is not reached for this and next year, payments will be hurdled even further. I would advise Bulgaria's government to speed up invoices for 2013 and send them ASAP before funding is depleted," Kalfin says.